News

Apple downloads another $10bn

APPLE has added more than $10 billion (£6 billion) to its vast cash hoard,
cementing its status as the world’s most powerful technology company.

The Silicon Valley giant will this week say it made pre-tax profits of
$11billion between July and September. Earnings for the year ending in
September are forecast to have soared by 60% to £56 billion.

The bonanza will bolster Apple’s position as the world’s most valuable
company, with a cash trove of $130 billion. The group is likely to have sold
about 25m iPhones in the last quarter alone, with some observers reckoning
that more than half the handset price is pure profit for Apple.

Analysts expect sales of the device to climb even higher over the coming
quarters after the release of the latest version of the smartphone. The
iPhone 5, which can run on new, superfast 4G networks, went on sale in
America and